EUR/USD can correct more

EUR/USD can correct more

2020-11-10 • Updated

EUR/USD fell below 1.1850 after reaching 1.1920 on Monday. The pair consolidated after the initial bearish move. This consolidation may turn out to be a bearish flag if the price moves below the support in the 1.1810/00 area. In this case, the pattern on the chart will become a “Head and Shoulders” opening the way to a deeper decline to the 1.1770/60 area (50-day Mam 50% retracement of November advance).

Trade idea for EUR/USD

SELL 1.1795; TP 1.1765; SL 1.1815

EURUSDM30.png

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